This is good!
Not the game being shelved of course, that's just sad. But the dev actually communicating clearly about the status of the game. So often have I seen threads here with the last 100 posts saying: "any news?" "update when?" "did he died?" (maybe exaggerating a little)
For once having clear communication about the status of a game coming from the dev is good, even if the news is disappointing it creates clarity.